Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Development, Office, Retail

Richmond’s International Trade Centre Project Closer to Reality

MYIE Group is forging ahead with plans for a site in the Bridgeport Area of Richmond that has been on the drawing board. They have now applied for a development permit for the proposed International Trade Centre. The project was originally conceived several years ago and recieved rezoning in 2013.

The site is a triangular, 71,350 SF piece of land at 8451 Bridgeport Road. The proposed uses include general retail, restaurant, hotel and office. The plan includes:

  • A total density of 3.0 FAR (215,000 SF)
  • Three towers of 9, 12 (office) and 14-storeys (hotel) with a common five-storey podium including retail
  • Approximately 100 hotel rooms (Opus Hotel, managed by Trilogy)

In an effort to capitalize on the overwhelming success of Aberdeen Square, the office space will be strata-titled and sold. The developer is taking registrations through Magnum Projects.

ITC Richmond ITC Richmond_1

February 13, 2015by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

DT

David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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